Texas Permanent School Fund Corp Has $8.84 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Texas Permanent School Fund Corp reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 0.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,090 shares of the oil and gas producer’s stock after selling 274 shares during the period. Texas Permanent School Fund Corp’s holdings in Occidental Petroleum were worth $8,844,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Avidian Wealth Solutions LLC acquired a new position in Occidental Petroleum in the 1st quarter worth about $206,000. Mediolanum International Funds Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at about $1,055,000. Wellington Shields Capital Management LLC increased its holdings in shares of Occidental Petroleum by 36.7% during the 1st quarter. Wellington Shields Capital Management LLC now owns 8,575 shares of the oil and gas producer’s stock valued at $557,000 after acquiring an additional 2,300 shares during the last quarter. Wellington Shields & Co. LLC increased its holdings in shares of Occidental Petroleum by 66.2% during the 1st quarter. Wellington Shields & Co. LLC now owns 11,300 shares of the oil and gas producer’s stock valued at $734,000 after acquiring an additional 4,500 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at about $1,009,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY stock traded up $0.07 during mid-day trading on Thursday, reaching $61.48. The stock had a trading volume of 5,129,009 shares, compared to its average volume of 7,912,114. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The firm’s 50 day simple moving average is $62.12 and its 200 day simple moving average is $61.88. The firm has a market cap of $54.51 billion, a PE ratio of 16.80 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the prior year, the firm posted $1.09 EPS. Occidental Petroleum’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, analysts forecast that Occidental Petroleum Co. will post 3.88 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.43%. Occidental Petroleum’s dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. Susquehanna increased their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. HSBC initiated coverage on Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Finally, Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Eleven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.40.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the purchase, the insider now owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired 4,656,747 shares of company stock valued at $278,664,028 in the last three months. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.